8 September 2025 | Weekly Snapshot
Saward Dawson > Wealth Advisory Insights > Weekly Snapshot > 8 September 2025
Did you know?
The website ‘Reddit’ is one of the primary websites used by popular AI agents, such as Chat GPT, to gather facts and opinions. Reddit is a democratic social media platform, connecting people with their various interests. This brings about an interesting discussion around our building blocks for artificial intelligence, including the merits of democratic/popular vs qualified opinion.
Market Movements
The Australian market was flat last week. Financials were higher by 0.7% along with consumer discretionary stocks (up 1.1%). Healthcare and Telecoms were both down 2.2%. Qantas was one of the top performers for the week (up 3.1%) after a strong earnings result, which showed that profits were higher by 15% to $1.6bn
In the USA, equities were higher by 0.3% with the energy sector leading the way (up 1.7%) whereas utilities were lower by 0.5%. Broadcom was a standout performer (up 12.6%) after a strong earnings result. Lululemon was down 17% after a disappointing earnings result, proving to investors that fashion brand names are not always a durable earnings advantage.
On economics, US job openings fell to 7.18m and there were 22,000 new job added in August, which was lower than the 75,000 expected. Taken together, the US employment sector continues to slow and this will embolden the US Fed to cut interest rates in the short term.
Gold continued to set new records and was up 3% for the weak. Record US fiscal spending, falling bond yields (lower interest rates) and sticky inflation providing a supporting backdrop. Uranium (up 5.5%) and Natural gas (up 11.2%) were both stronger on anticipation that AI capex is creating energy shortages and resulting in higher electricity prices. The below chart measures Unites States Government debt, which set a new all time high in July, despite new tariff inflows.
Portfolio Movements
Broadcom reports record Q3, shares up strongly
- Broadcom reported a solid Q3 with EPS of $1.69 ahead of the $1.66 expected. Record Q3 revenue of $15.95B surged 22% yoy, also ahead of the $15.83B expected.
- CEO Hock Tan said “Broadcom achieved record third quarter revenue on continued strength in custom AI accelerators, networking and VMware. Q3 AI revenue growth accelerated to 63% year-over-year to $5.2 billion,”
- Q4 guidance was also upgraded with Tan adding “We expect growth in AI semiconductor revenue to accelerate to $6.2 billion in Q4, delivering eleven consecutive quarters of growth, as our customers continue to strongly invest.”
- Broadcom is a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions.
Ali Baba reports strong Q1 – Developing new chip for AI inference tasks
- Alibaba reported a strong Q1 with revenue of RMB247,652 million (US$34,571 million), up 10% yoy on an underlying basis.
- Q1 earnings of CNY14.75 per share was a decent beat on the CNY14.16 expected.
- Separately, a Wall Street Journal article claimed Alibaba is developing a new, more versatile chip for a broader range of AI inference tasks and is being manufactured by a Chinese company. This wass thought to be a replacement for Nvidia’s H20 chip.
- Alibaba is the leading China B2B ecommerce platform for global trade
Court rules Google can keep Chrome – Shares up strongly
- In a landmark antitrust case against Alphabet, a federal judge has ruled that Google will not have to sell its Chrome web browser but will have to share some of its search data with competitors.
- The ruling allows Google to avoid one of the most severe remedy requests from the US government after the court previously found the company had an illegal monopoly in the search market.
- Google shares are up around 10% last week on the favourable ruling.
The Week Ahead
- Wednesday 10 September: USA PPI Final Demand MoM (Aug) 0.3% (prior 0.9%).
- Thursday 11 September: USA CPI MoM (Aug) 0.3% (prior 0.2%)l CPI Ex Food & Energy MoM (Aug) 0.3% (prior (0.3%), CPI YoY (Aug) 2.9% (prior 2.7%) CPI Ex Food & Energy YoY (Aug) 3.1% (prior 3.1%), Wholesale Inventories MoM (Jul F) 0.2% (prior 02%), Initial Jobless Claims (Sep 6) 234k (prior 237k).
- Friday 12 September: United Kingdom Industrial Production M/M (Jul) 0.0% (prior 0.7%), Industrial Production Y/Y (Jul) 1.1% (prior 0.2%), Mfg Production M/M (Jul) 0.1% (prior 0.5%), Mfg Production Y/Y (Jul) 1.7% (prior 0.0%).
- Saturday 13 September: USA Uni of Michigan Sentiment (Sep P) 58.0 (prior 58.2)
Saward Dawson Wealth Advisors Pty Ltd, a Corporate Authorised Representative of Akambo Pty Ltd t/a Accountants Private Advice
The information presented in this publication is general information only, and is not intended to be financial product advice. It has not been prepared taking into account your investment objectives, financial situation or needs, and should not be used as the basis for making an investment decision. Before making any investment decision you need to consider (with your financial adviser) your particular investment needs, objectives and financial circumstances.
Some numerical figures in this publication have been subject to rounding adjustments. Akambo Pty Ltd (including any of its directors, officers or employees) will not accept liability for any loss or damage as a result of any reliance on this information. The market commentary reflect Akambo Pty Ltd’s views and beliefs at the time of preparation, which are subject to change without notice.
